Trends in the shift towards a smart digital ecosystem.

On May 19th, the Vietnam Banking Association (VNBA), in collaboration with TradePass (India), organized the conference "World Financial Innovation 2026 (WFIS 2026)".

A view of the " Global Financial Innovation 2026" conference.

The conference took place over two days, May 19-20, and marked the fourth time this event has been held in Vietnam.

In his opening remarks, Dr. Dao Minh Tu, Vice President and General Secretary of the Vietnam Banking Association, stated that in recent years, Vietnam has emerged as one of the fastest-growing digital financial markets in Southeast Asia. The digital transformation in the banking sector has been strong, not only in expanding digital banking services and electronic payments, but also in profound changes to operating models, governance, and customer experience.

Trends such as AI-powered banking, open banking, cloud computing, and intelligent data governance are increasingly becoming strategic priorities for many financial institutions in Vietnam. In fact, areas such as AI applications in banking, modernization of technological infrastructure, enhanced cybersecurity, and financial fraud prevention are receiving particular attention.

Data from the State Bank of Vietnam shows that, to date, more than 95% of credit institutions have implemented or are implementing digital transformation strategies, while nearly 80% of financial transactions in Vietnam are conducted through digital channels. This indicates that the finance and banking sector is gradually shifting from a "service digitization" model to a smart banking model, operating based on data and comprehensive digital connectivity.

However, this rapid development is accompanied by increasing pressure on risk management and cybersecurity. Particularly in the financial and banking sector, the risks are becoming more apparent as attack methods are increasingly shifting towards data exploitation and identity theft in the digital environment.

According to Visa's Asia Pacific Cybersecurity Risk Report (April 2026), AI-powered attacks are rapidly increasing in both scale and sophistication, while the expanding digital financial ecosystem is complicating the risk landscape. Furthermore, the World Economic Forum's Global Cybersecurity Outlook 2026 report indicates that 65% of large organizations now consider third-party and supply chain vulnerabilities as their top cybersecurity resilience challenges.

Dr. Dao Minh Tu - Vice President and General Secretary of the Vietnam Banking Association - delivered the opening remarks.

"In the context of the financial and banking industry entering a period of profound transformation, the noteworthy point lies not only in the speed of technological development, but more fundamentally in how technology is fundamentally changing the way financial institutions operate, connect, and create value for customers," a representative of the Vietnam Banking Association observed.

Dr. Dao Minh Tu believes that while banks previously primarily provided services using traditional models, they are now gradually shifting towards a smart digital ecosystem model. Data has become a strategic asset, and customer experience is at the heart of all development decisions. “This presents a huge opportunity for Vietnamese banks to accelerate modernization, expand access to financial services, improve operational efficiency, optimize costs, and gradually assert their position in the regional digital financial value chain,” Dr. Dao Minh Tu emphasized.

According to the Vice President and General Secretary of the Vietnam Banking Association, digital transformation and innovation are opening up many development opportunities for the finance and banking sector, while also placing increasingly high demands on governance, system security, and resilience in the digital environment. Therefore, strengthening cooperation, sharing experiences, and promoting connections between financial institutions and the technology community will be of particular importance to the sustainable development of the entire banking sector in particular, and the financial and banking system in general.

HONG ANH

Source: https://nhandan.vn/xu-huong-chuyen-dich-he-sinh-thai-so-thong-minh-post963215.html